Industry News Brought to You by Institute of Commercial Payments

AFP Payments Fraud Survey Report: 80% of Organizations Targeted in 2023

Wed, 6 Nov 2024 14:15:00 GMT

A sharp rise in payments fraud hit businesses hard in 2023, with 80% of organizations reporting attacks, up from 65% in 2022. ACH credits have emerged as the new top target for Business Email Compromise (BEC), surpassing wire transfers for the first time. Despite the risks, checks remain widely used, with 70% of companies having no plans to discontinue them. How are companies balancing operational demands with the need for stronger fraud defenses? Explore AFP's 2024 survey findings and see where your business might be vulnerable.

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2020 Salary Survey Results: Free Executive Summary to Complimentary Subscribers and Members

Mon, 17 Aug 2020 18:43:02 GMT

Results of the 2020 NAPCP Salary Survey help end-users negotiate salary and promotions while assisting organizations in determining compensation and staffing requirements.

Become a complimentary subscriber and access the Executive Summary for free.

The results report is a "one-of-a-kind," providing compensation information specific to Commercial Card. The exclusive NAPCP Salary Survey, conducted approximately every three years, includes the latest figures on salaries, job levels and duties, and staffing trends. A corresponding webinar is scheduled for September 8, 2020.

The 2020 survey targeted Purchasing Card (P-Card) end-users—those who fulfill a job role related to a P-Card, One Card, Corporate Travel Card or an ePayables program. RPMG Research Corporation performed the analysis in the report.

Get the report to learn:

Average salaries for Program Administrators and Program Managers, as well as those with a program oversight role
Factors that contribute to higher salaries
Bonuses as part of the compensation package
The average number of FTEs based on number of cards in a program
Salaries by gender

>> Click here to access the Executive Summary and purchase the report.

The NAPCP Releases Guide to Creating a Commercial Card RFP

Thu, 13 Feb 2020 17:49:38 GMT

The NAPCP Higher Education Advisory Team (HEAT) has compiled a 15-page Guide to Creating a Commercial Card Request for Proposal (RFP) for the purpose of providing organizations with a comprehensive road map to help navigate through the process.

The guide examines:

Role of RFPs
Identifying Key Players for Project Team
Role of the Card Issuer/Provider
Analyzing a Program's Current Processes
Knowing your Contracting Requirements and Options
Objectives of the RFP
Developing an Evaluation Team
Researching Your Card Program's Technology Needs
Analyzing Content and Requirements
Revenue Share
What Do Card Issuers Typically Like to See?
Writing, Revising and Finalizing the RFP
Evaluations and Rating the Proposals
Items to Consider During Contract Negotiations and Award
Other Considerations
Conclusion

Members and subscribers >> Click here to review the guide.

RPMG Research Corporation Releases 2019 Travel and One Card Benchmark Survey Results

Fri, 15 Nov 2019 14:34:11 GMT

RPMG Research Corporation has released their 2019 Travel and One Card Benchmark Survey Reports based on findings from their 2018 survey.

The combined package of four reports is available in the NAPCP Store.

NAPCP members and subscribers receive a discount of $500 off the original cost of $2,999. Price differential pays for one year NAPCP membership.

Not a member or subscriber? Join the NAPCP today.

In the Game: Traditional Financial Institutions Embrace Fintech Disruption

Thu, 7 Nov 2019 14:47:34 GMT

A Pulse Survey by the Harvard Business Review Analytic Services and Mastercard Incorporated

Traditional financial institutions (FIs) have responded in a variety of ways to industry changes such as new regulations and emerging competition from fintechs. Key strategies they have adopted to date include collaborating with fintechs to tap into their strengths, investing in honing their own digital capabilities in-house, and even acquiring fintechs to make their cutting-edge innovations their own.

As the fintech revolution builds steam, FIs are transforming themselves. They are leveraging new technologies in hopes of delivering the same seamless experiences fintechs have developed to let customers open and manage accounts and pay for goods and services. They are launching digital businesses of their own, from mobile peer-to-peer payment systems to online retail investment platforms. They are rethinking their customer service experiences and designing them from the outside-in. And, they are seeking to move quickly, at scale.

Members >> Read on to learn more as FIs reveal their view of fintechs as enablers rather than threats. Two-thirds say they’ve already learned from fintechs and adopted some of their strategies. The biggest challenges FIs face in competing with fintechs are explored. Open banking is defined and also expected to drive still more fintech initiatives by allowing third-party developers to build applications and services for customers.

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Corporate Travel Policy Prepared by Citi in Conjunction with Acquis Consulting Group and Mastercard

Thu, 17 Oct 2019 21:48:43 GMT

From the role of policy in a travel management program to travel policy must-haves, this whitepaper offers great advice that includes trends that are emerging that often need to be translated into best practices in areas that touch on travel booking, expense management and travel technology solutions. Fifteen policy "must-haves" are identified that focus on topics that every travel policy should address in some capacity, and this whitepaper goes into the weeds about each of those areas.

Members >> Read more about the details and the importance of establishing clear protocols in your travel policy across all aspects of business travel.

Not a member? Join the NAPCP today.

NAPCP Releases Government/K-12 Best Practices Guide

Wed, 9 Oct 2019 19:13:55 GMT

New NAPCP Best Practices Guide Shows Public Sector Card Administrators How to Define, Develop and Implement a P-Card Program

The specialized nature of public sector P-Card programs requires careful navigation of policies, procedures, bid processes, taxpayer scrutiny and more, by those who administer them.

Working with practitioners across public sectors, including all levels of government and public school districts, the NAPCP has released the “NAPCP Government/K-12 Best Practices Guide: Considerations for Public Sector P-Card Programs,” to meet the needs of thousands of government program managers and teams.

The guide was written in collaboration with the NAPCP’s Government/K-12 Advisory Team, which advises the NAPCP on challenges, opportunities, trends and innovation facing the industry today. The NAPCP in turn creates content, tools, and educational and networking opportunities for almost 20,000 practitioners worldwide, in both the public and private sectors.

The guide is specifically organized to take readers step-by-step through the multi-faceted nature of a public sector card program. Topics addressed include:

First steps when initiating a program
Structuring a program with essential elements and controls
Defining roles and responsibilities
Creating and applying policies and procedures
Creating and using effective training approaches and materials
Implementing a reconciliation process
Adhering to audit, compliance and regulatory requirements
Managing and then optimizing a program once it’s up and running

Members and subscribers >> access more information about the Guide, including an Executive Summary.